AFRIMAT LIMITED - Finalisation Announcement in respect of the Scheme

Finalisation Announcement in respect of the Scheme

UNICORN CAPITAL PARTNERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1992/001973/06)
Share code: UCP
ISIN: ZAE000244745
(“UCP” or “the Company”)

AFRIMAT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/022534/06)
Share code: AFT
ISIN: ZAE000086302
("Afrimat")

FINALISATION ANNOUNCEMENT IN RESPECT OF THE SCHEME

UCP shareholders are referred to the various announcements by UCP and Afrimat, regarding
an offer by Afrimat to acquire all the ordinary shares in UCP not already held by Afrimat (or by
its subsidiaries) or by subsidiaries of UCP, by way of a scheme of arrangement (“Scheme”)
in terms of section 114 of the Companies Act, No. 71 of 2008 (“Companies Act”) and to the
circular, detailing the Scheme, which was distributed to UCP shareholders on 9 September
2020 (“Circular”).

As previously announced, all resolutions required to authorise and implement the Scheme,
were approved by UCP Shareholders at the Company’s general meeting on 9 October 2020.

Capitalised terms used below and that are not otherwise defined, bear the meanings ascribed
to them in the Circular.

UCP and Afrimat are pleased to announce that all remaining conditions precedent to the
Scheme, as detailed in the Circular, have now been fulfilled or, where applicable, waived, and
that the Scheme has, accordingly, become unconditional.

Shareholders are advised of the following important dates and times in respect of the
implementation of the Scheme:

                                                                                   2020

 Scheme Finalisation Date                                                          Tuesday, 1 December

 Scheme Finalisation Date announcement released on SENS, by 11:00                  Tuesday, 1 December
 on

 Scheme Finalisation Date announcement published in the South African              Wednesday, 2 December
 press on

 Scheme LDT in UCP Shares on                                                       Tuesday, 8 December

 Trading in UCP Shares on the JSE suspended from commencement of                   Wednesday, 9 December
 trade on

 Listing of maximum number of Consideration Shares                                 Wednesday, 9 December

 Trading in the Consideration Shares to commence on                                Wednesday, 9 December

 Announcement in respect of the cash value of fractional entitlements              Thursday, 10 December
 applicable to the Scheme, by 11:00 on

 Scheme Consideration Record Date to be recorded in the Register in                Friday, 11 December
 order to receive the Scheme Consideration on

 Scheme Implementation Date on                                                     Monday, 14 December

 Issue of Consideration Shares to take place on                                    Monday, 14 December

 Termination of listing of UCP Shares on the JSE at commencement of                Tuesday, 15 December
 trade on or about 

Notes:

1.   No dematerialisation or rematerialisation of UCP Shares may take place between the commencement of
     business on Wednesday, 9 December 2020 (being the first Business Day following the Scheme LDT) and the
     Scheme Consideration Record Date of Friday, 11 December 2020.
2.   All times referred to in this Circular are references to South African Standard Time.

It is recorded that UCP has received written demands in respect of, in aggregate, 34 442 819
UCP ordinary shares (comprising approximately 2.95% of UCP’s total issued share capital) in
terms of, or purportedly in terms of, section 164(7) of the Companies Act. The appraisal rights
process will be followed, to the extent applicable and required, in accordance with section 164
of the Companies Act, and will not affect the implementation of the Scheme.

The independent board of UCP accepts responsibility for the information contained in this
announcement which relates to UCP and confirms that, to the best of its knowledge and belief,
such information which relates to UCP is true and this announcement does not omit anything
likely to affect the importance of such information.

The board of directors of Afrimat accepts responsibility for the information contained in this
announcement which relates to Afrimat and confirms that, to the best of its knowledge and
belief, such information which relates to Afrimat is true and this announcement does not omit
anything likely to affect the importance of such information.

1 December 2020
         
Transaction Advisor to Afrimat and Transaction Sponsor
PSG Capital

Transaction Advisor to UCP
AcaciaCap Advisors

Sponsor to UCP
Questco Corporate Advisory 

Date: 01-12-2020 10:30:00
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